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Open Meeting Agenda
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Item 1: | Mutual Fund Distribution Fees; Confirmations Office: Division of Investment Management Staff: Robert E. Plaze, Hunter Jones, Diane Blizzard, Thoreau Bartmann, Daniel Chang |
Item 2: | Amendments to Form ADV Office: Division of Investment Management Staff: Robert E. Plaze, Sarah A. Bessin, Daniel S. Kahl, Vivien Liu, Don L. Evans |
The Commission will consider a recommendation to propose for public comment a new rule and rule and form amendments under the Investment Company Act of 1940, the Securities Act of 1933, and the Securities Exchange Act of 1934, to reform the regulation of distribution fees paid by registered open-end management investment companies (“funds”). The recommended proposal would provide a new framework for how funds currently use their assets to pay for sales and distribution expenses pursuant to rule 12b-1 under the Investment Company Act, and would revise disclosure requirements for transaction confirmations pursuant to rule 10b-10 under the Securities Exchange Act.
For further information on the proposal, please contact Thoreau A. Bartmann, or Daniel Chang, at 202-551-6792. For further information on the proposal with regard to rule 10b-10 under the Securities Exchange Act, please contact Daniel Fisher or Ignacio Sandoval, at 202-551-5550.
The Commission will consider whether to adopt amendments to Part 2 of Form ADV and related rules under the Investment Advisers Act of 1940. The amendments would require investment advisers to provide clients with narrative brochures containing plain English descriptions of the advisers’ businesses, services, and conflicts of interest. The amendments also would require advisers to electronically file their brochures with the Commission and the brochures would be available to the public through the Commission’s website.
For further information, please contact Vivien Liu, at 202-551-6728, or Don Evans, at 202-551-6727.
http://www.sec.gov/news/openmeetings/2010/agenda072110.htm
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